Navigating the complexities of inheriting and selling property requires a clear understanding of critical tax considerations, particularly the stepped-up tax basis. Erin Chan-Adams, a seasoned real estate expert with over 12 years of experience, shares valuable insights to help property owners make informed decisions when dealing with inherited properties.
“Understanding the stepped-up tax basis is essential for anyone inheriting property. It can significantly reduce your tax burden and simplify the process of selling inherited assets,” says Erin Chan-Adams, a trusted Realtor in Alameda, CA. “While it may seem complicated, this tax code provision is designed to provide relief during what can already be a difficult time.”
As a knowledgeable real estate listing agent in Alameda, CA, Erin explains that a step-up in basis allows the cost basis of the inherited property to be adjusted to its current market value at the time of the original owner’s death. This adjustment ensures the new owner avoids being taxed on unrealized gains accrued before inheritance, making it easier to manage capital gains tax when selling.
Erin’s expertise as one of the top Realtor agents in Alameda, CA comes from years of navigating the East Bay market. With a background as a real estate attorney and now as a full-time agent, Erin has helped countless clients maximize the value of their inherited properties. Whether it’s advising on property improvements or guiding clients through the sales process, her approach is always thorough and client-focused.
For families looking to work with Alameda, CA Realtors who understand the intricacies of the tax code and real estate law, Erin offers a unique blend of legal and market expertise. Her dedication to helping clients achieve their goals makes her an invaluable partner in any real estate transaction.
To learn more about how Erin Chan-Adams can assist with your real estate needs, visit her website at https://chanadamsrealty.com. Contact Erin today for professional guidance in navigating the complexities of selling inherited properties.
Media ContactCompany Name: Erin Chan-Adams | Real Estate Agent in Alameda CAContact Person: Erin Chan-AdamsEmail: Send EmailPhone: 1 415-370-7228Address:1410 Park Avenue City: AlamedaState: CaliforniaCountry: United StatesWebsite: https://chanadamsrealty.com/
